Australia's export earnings in the energy and mineral resources sector increased by nine per cent in the December quarter despite the economic slowdown, new figures show.
The Australian Bureau of Agricultural Resource Economics (ABARE) found a recent collapse in commodity prices was offset by a 24 per cent drop in the value of the Australian dollar.
Increased export volumes of some commodities and stable iron ore and coal prices that can't be reset until April 2009 also helped export earnings.
The Australian energy and mineral resources index increased by 15 per cent in the quarter, while the export index price for energy and the index for metals and related minerals increased by 21 per cent and 11 per cent respectively.
The price jump is largely a result of a drop in the value of the Australian dollar, the nation's commodities forecaster said.
Commodities that saw increased export earnings in the December quarter include uranium oxide (up 66 per cent, to $246 million), nickel (up 63 per cent to $452 million), and liquefied natural gas (up 61 per cent to $3.4 billion).
Diamond exports were up 48 per cent to $163 million.
Commodities that declined in export earnings in the September quarter included manganese ore and concentrate (down 66 per cent to $243 million), bauxite (down 22 per cent to $58 million) and zinc (down 20 per cent to $504 million).
Production of major mineral and energy commodities was mixed as coal, crude oil and natural gas increases were met with decreases in outputs of iron ore, nickel and copper.
Source: NineMSN
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